Chinese regulators Friday unveiled a broad package of measures to ease property financing, as the housing downturn continues to weigh on economic growth.

New guidelines from financial regulators mark a shift away from the presale model, tighten oversight of project funds and allow mortgage terms of up to 40 years

Chinese regulators Friday unveiled a broad package of measures to ease property financing, as the housing downturn continues to weigh on economic growth.

Mortgages would be issued only when projects are completed under new rules